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Feb 29: GDP `Leaps` backward

  • Feb 29: GDP `Leaps` backward

    Feb 29: GDP `Leaps` backward

  • Govt's disinvestment plan

    An engineer of ONGC works inside the Kalol oil field in Gujarat

    The government is set to raise at least $2.5 billion by selling a 5 percent stake in ONGC on Thursday, aiming to patch up its widening fiscal deficit and revive its stalled privatisation agenda.

    The long-delayed ONGC sale, set to be the biggest equity offering in India this year, will be done via an auction on the stock exchange, the first to use this newly approved sales method which avoids expensive roadshows and saves time.

  • BGR-Hitachi JV lowest bidder

    A labourer crouches inside a metal column at the construction site of a flyover on the outskirts of Mumbai

    A joint venture between BGR Energy Systems and Hitachi Power Europe GmbH has emerged the lowest bidder for the Rs 16,000 crore power equipment order from NTPC, an official at the state-run power producer said.

    State-run BHEL has emerged the second-lowest bidder, while the JV between Larsen and Toubro and Mitsubishi Heavy Industries was placed third lowest.

  • 2G auction in 400 days

    An electrician speaks on his mobile phone in Mumbai

    Telecom ministry could take at least 400 days to complete an auction of second-generation spectrum, Telecom Secretary R Chandrashekhar said, after an order by the Supreme Court to revoke nearly half of the existing licences.

    The court ruled on February 2 that all 122 telecoms licences awarded in a scandal-tainted 2008 sale be revoked in four months and asked the government to redistribute the licences and radio airwaves through an auction.

  • StandChart India profit pips

    Standard Chartered logo is seen beside a traffic light at a junction in Taipei

    Standard Chartered Plc reported a market-matching 10.7% rise in 2011 pretax profit on Wednesday, a ninth consecutive year of record earnings as it continued to ride on the back of strong Asian economic growth.

    Asia-focused StanChart reported a 2011 pretax profit of $6.78 billion, up from the $6.12 billion it recorded a year earlier, it said in a filing to the Hong Kong bourse.